Archer Daniels Midland Co strengthened its hand in the global grains marketplace by acquiring a stake in a second export terminal in the U.S. Pacific Northwest, a vital gateway for U.S. agricultural shipments to Asia. Illinois-based ADM said on Tuesday that it gained an ownership stake in the Columbia Grain export terminal in Portland, Oregon, by expanding its Kalama Export Company joint venture with Japanese grain trader Marubeni Corp, previously the terminal’s sole owner. Export facilities in the Pacific Northwest handle about 30 percent of U.S. grain and oilseed exports, including about 50 percent of U.S. wheat exports, offering shippers the shortest route to lucrative markets in Asia. China is by far the world’s largest soybean importer and Japan is the top corn importer. “There’s a lot of competition in the Pacific Northwest and having the option to export from two elevators rather than just one can make the logistics of exporting grain much easier. And if you increase competition, it increases flow and brings in more competitive prices,” said Terry Reilly, grains analyst with Futures International. Kalama Export Company currently operates a bulk grain terminal in Kalama, Washington, about 40 miles (64 km) upriver from the Columbia Grain terminal. ADM and Marubeni each owned 45 percent of the Kalama terminal, with Mitsubishi Corp holding the remaining 10 percent. Under the expanded joint venture, ADM will own 32.2 percent of the two elevators, Marubeni will own 60.6 percent and Mitsubishi 7.2 percent, said ADM spokeswoman Jackie Anderson. The 50/50 ADM and Marubeni governance structure remains unchanged, she added. ADM did not disclose the value of the transaction but said the company expects to record a gain in the quarter ended Sept. 30. That preliminary value may be adjusted in the company’s fourth quarter results, Anderson said. ADM and Marubeni also announced plans to rename its joint venture Pacificor LLC. Shares of ADM were 0.4 percent lower at $51.10 on Tuesday while Marubeni shares fell about 3.6 percent.